Kilbourne Group was founded in 2006 by Doug Burgum to jump start there vitalization of downtown Fargo’s urban core and economic vitality. Kilbourne Group has invested in historical redevelopment and mixed-use in fill projects designed to create a vibrant 18- hour city that offers unique experiences and places designed for people. With proven expertise in urban development, fund management, and real estate management, Kilbourne Group is guided by the knowledge that vibrant neighbor hoods create smart, healthy cities.
Q & A with President, Mike Allmendinger
Q. How did Kilbourne become a real estate developer?
A: After The City of Fargo and the community created the downtown master plan, Kilbourne Group was inspired to play its part in the revitalization of the neighborhood, purchasing its first buildings in 2003. Through early development stages, we realized the positive impact for all taxpayers in Fargo by redeveloping existing neighborhoods with existing infrastructure and knew the result of the work would be impactful for the whole community. Since then, Kilbourne Group has been renovating historic buildings and dreaming big to fill in the gaps left by surface parking lots. Over the last 10 years, mixed-use urban infill projects designed to create spaces for both people and cars have become our focus.
Q. How does your company try to contribute to the local community?
A: Kilbourne Group is committed to being a good neighbor by supporting vibrant, growing cities. We focus our philanthropic and volunteer efforts toward organizations that foster the vibrancy of downtown Fargo.
Q. What are some of the biggest challenges you face as a developer in this area?
A: Real estate development always has challenges to overcome to move projects forward. The post-COVID financial impacts are currently the biggest hurdle. The macroeconomics of construction costs and interest rates require more creativity to solve while maintaining a high-quality project. Kilbourne Group is lucky to work in a community that has a great economic base for continued growth, which is fundamental for getting any project off the ground.
Q. Where do you see our local commercial real estate market heading?
A: There is demand for businesses to grow into their own spaces locally, whether that is office, food and beverage, or retail. New entrepreneurs are always popping up, and we have a growing population that is hungry to support local businesses. There are many real estate developers in the metro that build spaces for start-ups, but Kilbourne Group is focused on bringing them to unique neighborhoods where people gather to work, live, and play.
There are many types of Real estate development. At Kilbourne Group, our team is most excited when we have the opportunity to develop in walkable neighborhoods, full of safe and exciting experiences for all to enjoy. When people have great experiences, memories are created and that builds communities. It is very rewarding for our team to work on projects that build our community.
Q. What are the long-term goals of your company?
A: The Kilbourne Group team has enjoyed working in downtown Fargo over the last 20 years and will continue to do work downtown. As we look to the future, we are excited about opportunities to build vibrant communities in new neighborhoods, work hard for our investors, and develop new community partnerships to make lasting, positive impacts.
Upcoming Kilbourne Projects
The Avery
The Avery is Kilbourne Group’s newest mixed-use project. The urban infill project will replace the surface parking lot on NP Avenue between Old Broadway and North Dakota State University’s Renaissance Hall. The Avery will offer 168 units with well-appointed finishes and amenities, including bike storage, a fitness center, rooftop deck, and pet run, all with new views of downtown, Renaissance Hall, and Island Park in the background. The project also includes a 2,525-square-foot ground-floor commercial space for lease.
The project is a public-private partnership with the City of Fargo, as it also includes a 472-stall structured parking garage owned by the City. This is the fourth parking structure built in downtown Fargo since 2017, which brings over 2,000 public parking spaces to downtown Fargo and the central business district. It will also be home to the new Fargo-Moorhead Community Theatre. The new theater space, which will have more than 400 seats, will be a state-of-the-art venue equipped with cutting-edge theater technology, making it an immersive learning environment for technical students interested in various aspects of theater production. Additionally, the space will offer meeting rooms and common spaces accessible to the community, serving as incubators for creativity, education, and social gatherings. The parking garage is set to open in 2025 and the remainder of the project in 2026.
Riverhouse
RiverHouse is under construction in downtown Fargo along the banks of the Red River of the North. Designed for those who want to be in the amenity-rich downtown energy and surrounded by nature, residents will enjoy direct access to the water, beautiful views, and kayak storage. The 115 living units of the RiverHouse will include expansive floor plan options with room for dining tables, high ceilings, heated parking, a fitness center, rooftop amenities, and spacious bedrooms. It is set to open in the fall of 2024.
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